For some (especially older migrants) it can be the only alternative. As long as you understand and accept the restrictions on it and it serves your purpose (as it obviously did for the OP) then it can provide a way to come to Australia, albeit temporarily, for longer than a tourist visa. To be fair, most people who use this visa do so with their eyes wide open and don't actually intend to stay in the long term or have other options that they exercise at a later date. It is made very clear by Immigration that it is not a "path to permanence" and is really just a way of ensuring that people who come over on it are well enough off to have enough funds to support themselves and go back if necessary. Of course the government get to hold onto a load of money at the same time, but that is made perfectly plain when you apply.